The Latest Breaking News from the Reserve Bank

The Reserve Bank of Australia lowered the official interest rate by 25 basis points to 3.60% at its meeting today, marking the third cut this year. The move follows reductions in February and May, and comes after a pause in July that surprised analysts and upset mortgage holders.

The Reserve Bank of Australia has delivered a pessimistic assessment of Australia's productivity potential, ahead of the government's economic roundtable.

Demand jumps nationwide after two interest rate cuts in 2025 increase borrowing capacity and underpin a wave of buying

In the United States, President Donald Trump has been pressuring the chairman of the US Federal Reserve, Jerome Powell, to slash interest rates. This is partly to ease the interest payments on the ballooning US government debt.

Borrowers are hoping for clarity on the Reserve Bank's next moves as an unexpected jump in unemployment firms the case for an interest rate cut.

‘Money in the bank is at a record high, so banks aren’t having to compete for people’s deposits,’ Canstar’s Sally Tindall says

Australians are being warned about possible further rises in unemployment after a shock jobless rate jump that has strengthened the case to cut interest rates.

New figures show Australia’s seasonally adjusted unemployment rate unexpectedly rose to 4.3% – its highest level since late 2021 – in June this year, up from 4.1% in May.

Australia's unemployment rate has bucked expectations and risen as economic headwinds take their toll on employers.